Incyte Co. (NASDAQ:INCY) has been given an average rating of “Buy” by the twenty-four ratings firms that are presently covering the stock. Three investment analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $144.66.
Several brokerages recently commented on INCY. SunTrust Banks, Inc. reduced their price target on shares of Incyte from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets dropped their price objective on shares of Incyte from $170.00 to $144.00 and set an “outperform” rating on the stock in a research note on Wednesday. TheStreet lowered shares of Incyte from a “b-” rating to a “c+” rating in a research note on Monday. Credit Suisse Group AG set a $167.00 price objective on shares of Incyte and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays PLC dropped their price objective on shares of Incyte from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday.
Incyte (NASDAQ:INCY) traded down 0.28% during trading on Wednesday, reaching $122.76. The company had a trading volume of 1,390,157 shares. The firm has a 50-day moving average of $138.77 and a 200-day moving average of $114.39. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of 227.33 and a beta of 0.78. Incyte has a 1-year low of $68.03 and a 1-year high of $153.15.
Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The firm earned $326 million during the quarter, compared to analysts’ expectations of $324.90 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The firm’s revenue was up 33.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. On average, analysts anticipate that Incyte will post ($0.08) EPS for the current fiscal year.
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In related news, insider David W. Gryska sold 41,528 shares of Incyte stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $138.00, for a total transaction of $5,730,864.00. Following the transaction, the insider now owns 20,754 shares of the company’s stock, valued at approximately $2,864,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jean Jacques Bienaime purchased 1,000 shares of the business’s stock in a transaction on Friday, April 7th. The stock was bought at an average cost of $139.48 per share, for a total transaction of $139,480.00. Following the purchase, the director now owns 2,177 shares of the company’s stock, valued at approximately $303,647.96. The disclosure for this purchase can be found here. Insiders have sold a total of 127,571 shares of company stock worth $18,145,772 in the last three months. 13.70% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Shelton Capital Management increased its position in shares of Incyte by 30,859.4% in the fourth quarter. Shelton Capital Management now owns 3,595,000 shares of the biopharmaceutical company’s stock worth $1,164,000 after buying an additional 3,583,388 shares during the last quarter. Norges Bank purchased a new position in shares of Incyte during the fourth quarter worth $180,561,000. Matrix Capital Management Company LP bought a new position in Incyte during the third quarter valued at approximately $132,006,000. Fred Alger Management Inc. increased its position in Incyte by 228.6% in the fourth quarter. Fred Alger Management Inc. now owns 1,765,425 shares of the biopharmaceutical company’s stock valued at $177,019,000 after buying an additional 1,228,201 shares in the last quarter. Finally, Federated Investors Inc. PA increased its position in Incyte by 9,088.7% in the fourth quarter. Federated Investors Inc. PA now owns 577,141 shares of the biopharmaceutical company’s stock valued at $57,870,000 after buying an additional 570,860 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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